Meridian Mobile, a subsidiary of the UK-based Meridian Group, aims to achieve a 10 percent market share in India by the end of current fiscal and increase its range of handset models from 34 to 100 by the end of 2008.
At present, the company’s market share is estimated to be 3 percent across India and the company plans to expand in India by marketing Fly brand which was launched two years back. The company now focuses on store branding and developing alliance with retailers.
On the expansion plan, Mr Ranjit Sidhu, sales head of the company reveleated that the company has tied up with 9000 top retail outlets of the country and will increase presence from 90 to 150 major towns by next year. He also said that the company will rope in leading UK_based retailer Euroset for India.
Further the company also plans to increase the head count from 5,000 to 10,000 by next year. The company estimates its turnover to be Rs 207 crore for current financial year and Rs 1,000 crore in the next fiscal.
Moreover, the company also intends to position itself in South Asian countries like Pakistan, Sri Lanka, Bangladesh and Dubai.